401K

Mortgage underwriting rules eased for seniors with assets

2013-05-24 19:57:00

WASHINGTON — Here's a heads-up for the growing ranks of seniors whose post-retirement monthly incomes aren't sufficient to qualify for a mortgage under today's tough underwriting standards: Thanks to a rule change by the largest players in the...

Time to wake from the American Dream and face retirement reality

2013-05-02 05:00:00

The retirement plans of more and more Americans are about as connected to reality as Grimm’s Fairy Tales. Grim is exactly what it is going to be for these folks when, in their 70s, their 401(k)s have petered out, they have no pensions and no...

At Milken conference, lots of pension questions and few answers

2013-04-29 13:49:00

Underfunded state pensions are a vexing problem that even the brightest minds at the Milken Institute Global Conference can’t solve. State governments nationwide have fallen behind in saving for employee retirements. The average public pension...

Elderly couple's sons pressuring them to get a reverse mortgage

2013-04-12 23:34:00

Dear Liz: I try to watch out for my neighbors, a married couple in their early 90s. Two of their three sons, who are both in their 60s, want them to get a reverse mortgage. The couple's house is paid off as well as their cars. They pay all their monthly...

Tips for investing in exchange-traded funds

2013-04-05 22:07:00

Exchange-traded funds have taken Wall Street by storm in the last few years. But the boom in ETFs may leave some investors confused about how to make the best use of the portfolios, which come in a dizzying array of flavors. Here's a practical...

Exchange-traded funds gain on traditional mutual funds

2013-04-05 22:08:00

In the early 1990s, executives of the now-defunct American Stock Exchange hatched a revolutionary idea: a hybrid mutual fund-type investment that would trade like a stock. But in an era when hot-handed mutual fund managers had rock-star status, the...

Use windfall to save for retirement before paring student debt

2013-04-05 21:55:00

Dear Liz: What would you suggest that someone do with $20,000 if the someone is closer to 40 than 30, single, with $100,000 of student loan debt and a $250,000 mortgage? My salary is around $100,000 a year. I have an emergency fund equal to six months...

Letters: Pensions and 401(k)s

2013-04-04 00:00:00

Re "Garcetti, Greuel gingerly hug city worker unions," March 28 Bob Schoonover, president of SEIU Local 721, is quoted in the article as describing the public and private retirement programs as two lifeboats, one with a leak. Private 401(k) plans go...

Protecting an elderly mother's assets

2013-03-29 20:22:00

Dear Liz: Could you advise us on how to protect our 93-year-old mother's assets if she should become ill or die? She does not have a living will or a trust regarding her two properties. Answer: "If" she should become ill or die? Your mother has been...

More than 25% of Americans raiding 401(k)s to pay bills

2013-03-07 10:40:00

More than 25% of Americans are dipping into 401(k) retirement accounts to pay for bills. U.S. workers are tapping into nearly a quarter of the $293 billion placed into their retirement savings each year to pay for mortgages, credit cards and other...

Withdrawals from traditional IRAs can't be postponed

2013-03-01 20:06:00

Dear Liz: I just turned 70. Must I draw now from my IRA? I still work full time. I heard from one investment company representative that since I work, there is an exemption that I may not have to start withdrawals. Is this true? Answer: You can postpone...

A crucial step toward retirement security for the working class

2013-02-19 15:32:00

It's amazing, and depressing, when political compromise functions only to throw obstacles in the way of ideas that bring the greatest good to the greatest number of people. Today's example: the long, tortuous road to bringing more retirement security to...

More than 25% of American workers are dipping into their 401(k) accounts to pay for bills.

2013-03-07 10:35:00

Megan Mardy has been promoted to partner in the Chicago office of McDermott Will & Emery LLP. She focuses her practice primarily on designing, amending and administering 401(k) plans, profit sharing plans, pension plans, cafeteria plans and welfare benefit plans.

2012-11-14 07:46:00

Lisa K. Loesel has been promoted to partner in the Chicago office of McDermott Will & Emery LLP. She focuses her practice on a variety of employee benefits matters, including the design, amendment and administration of pension plans, 401(k) plans and nonqualified deferred compensation arrangements.

2012-11-14 07:46:00